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    Trump Once Again Slams Federal Reserve, Calls It Too Aggressive

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    WASHINGTON (Sputnik) - The Federal Reserve is making a big mistake by being too aggressive in raising interest rates, US President Donald Trump said in an interview on Thursday.

    "I'd like our Fed not to be so aggressive because I think they're making a big mistake," Trump told Fox News.

    Later in the day, US President Donald Trump, speaking to reporters at the White House, stated that the Federal Reserve was "out of control".

    The comments were the latest in a row of the president's criticism of interest rate boost, which caused the downfall in the stock market.

    When asked on October 10 about the day's more than 800-point drop, Trump told reporters the Federal Reserve had gone crazy, saying its monetary policies were too tight.

    READ MORE: US Federal Reserve to Continue Policy Tightening Amid Solid Labor Market

    The boost of US Interest Rate

    Last month, the Federal Reserve boosted the US interest rate by 25 basis points, and the central bank is planning two more hikes by the end of this year. The Fed's open market committee has said the goal of the increases is to control inflation, as economic activity continues to grow at a strong rate.

    On Wednesday, the Dow Jones Industrial Average fell by more than 3 percent, or 831.83 points — the third biggest point drop on record. The Nasdaq Composite Index fell by more than 4 percent, or 156 points, in the worst percentage decline since June 2016.

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    Tags:
    aggressive policies, system, US Federal Reserve, Donald Trump, United States
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